May 9, 2012
Austin, Texas — Interest rates on new credit card offers stayed put for the fourth straight week, according to the CreditCards.com Weekly Credit Card Rate Report.
The average is composed of 100 of the most popular credit cards in the country, including cards from dozens of leading U.S. issuers and representing every card category. Introductory (teaser) rates are not included in the calculation.
Rates for card categories tracked by CreditCards.com are listed below:
|Credit Card Rate Averages|
|Avg. APR||Last Week||6 Months ago|
The national average annual percentage rate (APR) on new card offers remained fixed at 14.91 percent Wednesday. This is the 11th time this year interest rates haven’t budged.
This is also just the second time in four years that the national average has remained unchanged for a month or longer. The last time average interest rates remained unchanged for this long was in March 2011 when average rates held steady for five straight weeks.
Issuers also left promotional terms alone for the fourth straight week. According to CreditCards.com data, promotional APRs, balance transfer offers and annual fees have remained the same for all 100 cards in the CreditCards.com database since mid-April.
The CreditCards.com credit card rate survey (permalink: https://www.creditcards.com/rate-report) is conducted weekly, using offer data from the leading U.S. card issuers' websites. Introductory offer periods and regular interest rates will vary with applicants' credit quality and issuer risk-based pricing policies.
CreditCards.com is the leading online credit card marketplace connecting consumers with multiple credit card issuers, including a majority of the 10 largest in the United States, based on credit card transaction volume. CreditCards.com, https://www.creditcards.com, enables consumers to search for, compare and apply for credit cards and offers credit card issuers an online channel to acquire qualified applicants.
Ben Woolsey, 512-996-8663, ext. 106
Director of Marketing
NOTE TO EDITORS: The information contained in this release is available for print or broadcast with attribution to CreditCards.com.